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BlockTower Capital Suffers Losses in a Recent Hack, Hacker Unidentified

Published 05/15/2024, 03:00 PM
Updated 05/15/2024, 03:15 PM
BlockTower Capital Suffers Losses in a Recent Hack, Hacker Unidentified

  • BlockTower Capital has suffered significant losses in a recent hack, according to people familiar with the matter.

  • The hacker and the stolen amount are yet to be identified, and the firm has appointed a team to investigate.

  • Last year, the firm shut down its “market neutral” crypto fund, which once boasted over $100 million.

The institutional investment firm BlockTower Capital has reportedly suffered significant losses from a recent exploitation. A recent Bloomberg report stated that the company’s total loss in the hack remains undisclosed, and the hackers are yet to be identified.

BlockTower was founded in 2017 and has offices in Miami and New York. The firm has invested in various institutions, including the NFT developer Dapper Labs, the blockchain platform Terraform Labs, and the gaming studio Sky Mavis. While the firm raised a $150 million venture fund in 2022, BlockTower boasts around $1.7 billion in assets under management (AuM).

According to the Bloomberg report, the undisclosed fund is still missing. To identify the exploiter and recover the funds, BlockTower has appointed blockchain forensics analysts. The team is supposed to study the hack …

The post BlockTower Capital Suffers Losses in a Recent Hack, Hacker Unidentified appeared first on Coin Edition.

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